It was recently where Softbank managed to acquire a controlling stake in major US carrier, Sprint, and unsurprisingly it seems that Sprint might not have been the only company that the Japanese company had their eye on. According to a report from The Financial Times, not only were Softbank interested in acquiring a company in the US that had its hooks in the telecommunications market, but they wanted to sink their claws into the entertainment business as well with a rumor that they were also interested in buying Universal Music Group.
The report suggested that Softbank had allegedly offered Universal Music Group’s parent company, Vivendi, around $8.5 billion, a good $2-3 billion more than what the company’s estimated value was. However Vivendi believed that Universal Music was the key to their future strategy and thus declined Softbank’s offer. Universal Music is one of the few major labels left in existence, with names such as Sony and Warner coming into the equation as well, so it is not surprising that Softbank would want to get their hands on the company, especially with all the music licensing deals going around now for music streaming services, although how exactly does this fit into Softbank’s overall image as a company isn’t clear.
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- 2013-05-30 Sprint-Softbank Deal Approved By CFIUS
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